The Bureau of Energy Efficiency (BEE) has released a notification stating that the trading of ESCerts for PAT cycle II shall begin from 27th February, 2018 and shall be held on every last Tuesday of the month. The buyers and sellers from PAT cycle 1 shall be eligible for the trading of banked ESCerts.

Those DCs who have not submitted the copies of Form-D and have already met their compliance in PAT cycle I have the chance to submit it to BEE through post/ courier by 31st January 2018.

The seventeen trading session of ESCerts took place today. It was the last day of trade for PAT cycle – I.

In total, there was a demand for 110,511 ESCerts, an decrease of nearly 27.39% from last week. This demand was against a total supply of 8,94,445 ESCerts (increase of 8.46% since last week). Market clearing price was determined at Rs 450/ ESCert (the price determined last week was Rs 501 per ESCert), with 109,161 ESCerts sold (value traded increased by 30.92%; the total traded value was Rs 4.91 crore).

The last date of submission of Form D is 19 January 2018.

The trading data provided by IEX on their website can be accessed here.

In total, there was a demand for 152,195 ESCerts, an increase of nearly 4.85% from last week. This demand was against a total supply of 824,707 ESCerts (increase of 6.06% since last week). Market clearing price was determined at Rs 501/ ESCert (the price determined last week was Rs 500 per ESCert), with 74,895 ESCerts sold (value traded increased by 158.93%; the total traded value was Rs 3.75 crore).

The trading data provided by IEX on their website can be accessed here.

BEE (Bureau of Energy Efficiency), in its circular dated 02.01.2018 has announced an extension of the last date for compliance of PAT Cycle – 1 to 19th January 2018 from 31st December 2017. No change in the timings of trading have been proposed by BEE.

This extension has been granted since out of 384 DCs, application for 33 are still under approval process by the registry.

In total, there was a demand for 145,150 ESCerts, a decrease of nearly 60.34% from last week. This demand was against a total supply of 777,567 ESCerts (decrease of 28.96% since last week). Market clearing price was determined at Rs 500/ ESCert (the price determined last week was Rs 899 per ESCert), with 28,983 ESCerts sold (value traded decreased by 92.7%; the total traded value was Rs 1.45 crore).

The trading data provided by IEX on their website can be accessed here.

In total, there was a demand for 365,980 ESCerts, a decrease of nearly 50% from last week. This demand was against a total supply of 1,094,568 ESCerts (increase of 31.68% since last week). Market clearing price was determined at Rs 899/ ESCert (the price determined last week was Rs 1,000 per ESCert), with 2,20,791 ESCerts sold (value traded decreased by 55.87%; the total traded value was Rs 19.85 crore).

This was the last trading session for compliance under PAT cycle I. In total 10.85 lakh ESCerts have been purchased till date, compared to an estimated demand of about 14.25 lakhs ESCerts. The following graph illustrates the total demand as compared to the total ESCerts traded.

Companies that have failed to purchased ESCerts in compliance with their PAT Cycle I requirements will be required to now pay penalty at the rate of Rs 10,968. It will be upto BEE to levy and collect the penalty.

Based on the experience so far in the RPO markets, there are hardly any instances of imposition of penalty. However, if the BEE extends the deadline or fails to impose the penalty in a timely manner, it will set a very poor precedent for PAT Cycle II.

The trading data provided by IEX on their website can be accessed here.

In total, there was a demand for 7,30,885 ESCerts, an increase of nearly 47.5% from last week. This demand was against a total supply of 8,31,224 ESCerts (increase of 91.6% since last week). Market clearing price was determined at Rs 1,000/ ESCert (the price determined last week was Rs 525 per ESCert), with 4,49,818 ESCerts sold (value traded increased by nearly 539.6%; the total traded value was Rs 44.98 crore).

Trading volumes have increased in recent weeks as the compliance period is coming to a close. Next week is expected to be last trading session for compliance under PAT cycle I. In total 8.65 lakh ESCerts have been purchased till date, compared to an estimated demand of about 14 lakhs ESCerts.

The trading data provided by IEX on their website can be accessed here.

In total, there was a demand for 1,17,514 ESCerts, an increase of nearly 1000% from last week. This demand was against a total supply of 3,68,361 ESCerts (increase of 9.5% since last week). Market clearing price was determined at Rs 250/ ESCert (the price determined last week was Rs 200 per ESCert), with 36,580 ESCerts sold (value traded increased by nearly 500%; the total traded value was Rs 0.91 crore). REConnect’s market share in this trade session was 85.7%.

In total, there was a demand for 10,963 ESCerts, a decrease of 10.44% from last week. This demand was against a total supply of 336,121 ESCerts (increase of 5.10% since last week). Market clearing price was determined at Rs 200/ ESCert (same as last week), with 7513 ESCerts sold (value traded reduced by 38%; the total traded value was Rs 0.15 crore). REConnect’s market share in this trade session was 72%.

In total, there was a demand for 12,241 ESCerts, an increase of of 6.25% from last week. This demand was against a total supply of 3,19,810 ESCerts (decrease of 26.7% since last week). Market clearing price was determined at Rs 200/ ESCert (compared to Rs 350 last week), with 12,125 ESCerts sold (value traded reduced by 33%; the total traded value was Rs 0.24 crore). The price of ESCerts has reduced to nearly 1/6th from where it started.

Source: IEX

A circular has been released by the Bureau of Energy Efficiency (BEE) instructing all the Designated Consumers (DCs) which had not achieved their energy saving targets to comply to their obligations as per PAT cycle-1 through purchase of ESCerts. The circular also mentions the penalty for non compliance as maximum Rs 10 lakh and the additional penalty to be incurred.

In total, there was a demand for 11,521 ESCerts, a decrease of 45.23% from last week. This demand was against a total supply of 4,36,394 ESCerts (increase of 13.83% since last week). Market clearing price was determined at Rs350/ ESCert (compared to Rs 500 last week), with 10,351 ESCerts sold (value traded reduced by 62%; the total traded value was Rs 0.36 crore). The price of ESCerts has reduced to nearly 1/4th from where it started.